Small business owners are the first to know when small businesses are changing, for better or worse. With today’s technology and new social wave, there are constant changes being made to how you should do business, and ways to market your business. Business owners notice when their business is struggling, but they may not always know why. It’s important to note what is happening in your industry and in the business world around you. Here are 3 ways that small business is currently changing. If you aren’t already keeping up, now is the time to get started:
In 2017, allbusiness.com conducted a study and found that over 50% of businesses actively use Facebook. Why isn’t it 100%? Well, it should be. We recently found an article suggesting that each Facebook like was worth $174. Even though you, of course, don’t get $174 deposited into your bank account each time you receive a Facebook like, the value is still very real. Each time a follower likes one of your business’ Facebook posts, you are going to show up to several of their online friends. Thanks to Facebook’s algorithm, the more people interact with your posts, the more frequently your posts will show up for them. The impact social media has on businesses is huge. There are several benefits to utilizing social media for your business, and they include:
Quick and easy information transfer to your customers
Another review platform for potential customers to research your business
Perfect space for communicating and sharing with your followers
Most of your customers/potential customers are on social media (about 81%)
If that doesn’t convince you, we don’t know what will. The impact social media has on your business’ growth and success is always changing and increasing, and it’s your job to keep up!
It’s easier than ever to pinpoint your ideal customer, and use that in your marketing. When you are trying to market to a potential consumer, the most important thing you can do is know your customer. With today’s technology and use of social media, it’s easier than ever to find out your customers’ interests, demographics, age range, gender, etc. Utilizing this information in your messaging is key to grabbing those consumers and turning them into loyal customers. Be sure you’re collecting customer data each time you complete a service, or sell a product. Know where your customer came from and try to get some information about them that will help you in gaining more customers in the future. Customer targeting is easier now than ever, and you can thank technology for that!
Customer Engagement is Customer Service
Depending on your industry, you likely have between 70-90% of customers who only use your business once. Why? After all your hard work obtaining a new customer, by getting your messaging right, gaining reviews, and spending money on ads, why let them slip away to a competitor? In today’s business world, customer engagement IS customer service. This means that if you’re not engaging with your customers after doing business with them, you’re not practicing the best customer service you could be. Engaging with your customers comes in many forms:
Social media interactions
Email blasts to remind them of your services, or offer a discount
Text blasts to offer a discount or ask for a review
There are so many ways to engage with your customers, and that’s the key to keeping them coming back time and time again. Don’t lose your customers because of poor customer service! Remember, with today’s technology advances, most businesses are engaging with their customers on a regular basis. If you’re not, your business will get left behind.
It’s hard to run a business and keep up with the constant changes. We get that, and that’s why we want to help business owners any way we can! Utilize these tips and take advantage of all the marketing opportunities around you.
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!